Dollar Surges Against Yen
To Its Highest Level in 1999

NEW YORK -- The dollar rose to its highest level against the yen this year, while gaining slightly on the euro, fueled in part by the U.S. yield advantage.

The relative value of U.S. assets was the main force behind the strength of the U.S. currency, traders said. One day after the Federal Open Market Committee announced its bias toward tightening monetary policy, market players have become more confident in bidding the dollar higher,...